Stocks fall in volatile session, oil sits at $123 and gold at $2,040
Gold surged to $2,040, highest since August 2020
Adviser Investments CIO Jim Lowell joined 'Mornings with Maria' to discuss the markets and risk of recession this year amid international uncertainties.
U.S. stocks, in a volatile session, ended lower as investors debated whether President Biden's U.S. ban on Russian oil imports will lower oil prices over the long-term.
RUSSIA INVADES UKRAINE: LIVE UPDATES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 50135.87 | +20.20 | +0.04% |
| SP500 | S&P 500 | 6964.82 | +32.52 | +0.47% |
| I:COMP | NASDAQ COMPOSITE INDEX | 23238.66991 | +207.46 | +0.90% |
The Nasdaq Composite, which entered a bear market Monday, fell 0.3%, while the S&P 500 slipped 0.7%, and the Dow Jones Industrial Average over 185 points or 0.6%.
Equities swung between losses and gains after Biden's announcement. Sen. Rob Portman, R-Ohio, tells FOX Business the markets briefly weighed whether the announcement signals the U.S. will focus on their own natural resources, even with the ongoing crackdown on pipelines and drilling.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLE | ENERGY SELECT SECTOR SPDR ETF | 53.64 | +0.40 | +0.75% |
Oil remained higher but eased to $123.70 per barrel.
ENERGY INDUSTRY SWIPES BACK AT PSAKI 'RED HERRING' COMMENT ON OIL AND GAS LEASES
A gallon of regular gas now costs an average of $4.17 across the country after breaching the $4 barrier on Sunday for the first time since 2008, per AAA.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 78.02 | +1.03 | +1.34% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 32.52 | +0.50 | +1.56% |
| UGA | UNITED STATES GASOLINE FUND - USD ACC | 70.64 | +1.21 | +1.74% |
In related news, Shell Oil confirmed it will withdraw from involvement in all Russian hydrocarbons due to the country's invasion of Ukraine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SHEL | SHELL PLC | 77.80 | +2.51 | +3.33% |
WORLD BANK ASSEMBLING $725M EMERGENCY PACKAGE TO UKRAINE
Gold also rose above the $2,040 mark in a flight-to-safety move, now at the highest level since August 2020.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - USD ACC | 466.89 | +11.52 | +2.53% |
In other stock news, Dick's Sporting Goods reported better than expected profits, earning $3.16 per share, while sale store sales jumped 5.9%, also exceeding estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKS | DICK'S SPORTING GOODS | 201.92 | -6.37 | -3.06% |
Apple ended lower after rolling out more 5G connectivity to its cheaper iPhone SE while the iPad Air got upgraded with faster chips.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 274.62 | -3.24 | -1.17% |
In deal news, Google LLC is buying Mandiant, a "leader in dynamic cyber defense and response," in a deal valued at $5.4 billion or $23 per share. "The acquisition of Mandiant will complement Google Cloud’s existing strengths in security," Google noted in the announcement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 324.32 | +1.46 | +0.45% |
| MNDT | NO DATA AVAILABLE | - | - | - |
U.S. companies continued to distance themselves from Russia on Tuesday, as McDonald's, Pepsi, Starbucks and Amazon joined the movement, along with dating app Bumble.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 325.60 | -1.56 | -0.48% |
| PEP | PEPSICO INC. | 166.47 | -4.02 | -2.36% |
| SBUX | STARBUCKS CORP. | 98.98 | -0.47 | -0.47% |
| AMZN | AMAZON.COM INC. | 208.72 | -1.60 | -0.76% |
| BMBL | BUMBLE INC. | 3.19 | -0.03 | -0.93% |
In cryptocurrencies, Bitcoin hovered around $38,000.
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The Associated Press contributed to this report.